General Electric

Staples Inc.'s proposed takeover of Office Depot Inc. will collapse if the companies are forced to delay their deal to face a government challenge in the Federal Trade Commission's in-house court scheduled for May, a lawyer said.

The FTC, which says the merger is anticompetitive, is asking a federal court judge in Washington to stop the transaction from closing pending that trial. Matt Reilly, an attorney for Office Depot, said during a court hearing Tuesday that the company is "in limbo" and that going through a drawn-out administrative process isn't an option if the judge rules against them.

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